IB DP Economics: The global economy

Explain how international trade can benefit consumers and producers.

Using real-world examples, evaluate the view that free trade benefits all countries.

Explain how a tariff affects consumers and domestic producers.

Using real-world examples, evaluate the arguments for trade protection.

Explain the difference between a free trade area and a customs union.

Using real-world examples, evaluate the benefits and costs of economic integration.

Explain how changes in demand for a currency can affect its exchange rate.

Using real-world examples, evaluate the consequences of a depreciation of a currency.

Explain the components of the current account of the balance of payments.

Using real-world examples, evaluate policies to reduce a current account deficit.

Explain the relationship between economic growth and sustainable development.

Using real-world examples, evaluate policies that promote sustainable development.

Explain how the Human Development Index measures economic development.

Using real-world examples, evaluate the usefulness of different indicators of economic development.

Explain how poor infrastructure can act as a barrier to economic development.

Using real-world examples, evaluate the significance of barriers to economic growth and development.

Explain how investment in human capital can promote economic development.

Using real-world examples, evaluate the effectiveness of foreign direct investment as a development strategy.